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Sale On Premises8302-8312PULASKI HIGHWAYUS-40 West of I-695 Exit 35"Rosedale", Baltimore County, MD 21237

WEDNESDAY, AUGUST 19, 2015AT 2:00 P.M.

NOTE: The information contained herein has been obtained from sources deemed reliable and is believed to be accurate. However, no express or implied warranty is made or may be inferred from any such representation. Dimensions, square footage and acreage contained herein are more or less. Prospective purchasers are encouraged to perform their own due diligence, in advance of the auction, regarding the permitted uses of the property.

GENERAL INFORMATION:The auction property consists of a former Double-T Diner, last operated as the Happy Diner, situated on 0.87 acre, known as 8302 Pulaski Highway and the adjacent parcel on the east known as 8312 Pulaski Highway, comprising 0.40 acre. The second parcel is currently leased to a car dealer for $2,500 per month on a triple net basis. The property is viable as currently used and improved and has tremendous potential for redevelopment.

LOCATION:8302 and 8312 Pulaski Highway are situated in the Rosedale area of Eastern Baltimore County, immediately west of Baltimore Beltway (I-695) Exit 35 and east of Baltimore City. The property is located on the westbound side of Pulaski Highway (US-40) with excellent visibility from eastbound and westbound traffic. There are multiple curb cuts on Pulaski Highway and Philadelphia Road (MD-7) in the rear. Nearby land uses include fast food restaurants, small manufacturers, retail and office buildings, Alban CAT and Tractor, a self-storage facility and various highway commercial land uses. Well established residential neighborhoods are north and south of the property.

The property has excellent highway linkage to I-695, I-95 and I-895, providing access to points along the I-95 corridor north and south of the Baltimore metropolitan area. According to the Maryland State Highway Administration 2014 Traffic Volume Map, the traffic count at Pulaski Highway and Philadelphia Road was 51,862 vehicles per day, including 37,902 along US-40 and 12,042 along MD-7 at the subject property.

Pulaski Highway is a six-lane divided highway with median strip and shoulder at the properties. Philadelphia Road is two lanes. Both roadways are macadam paving, have concrete curbing, sidewalks, storm drainage and street lighting.

SITE:The property consists of two adjacent commercial lots, each clear and fairly level.

8302 Pulaski Highway fronts approximately 188' along the north side of Pulaski Highway (US-40) with depths of 227' and 191' and a rear lot line of 189' along the south side of Philadelphia Road (MD-7), comprising 0.87 acre of land. There are two curb cuts each for ingress and egress to Pulaski Highway and Philadelphia Road. The parcel is mostly asphalt paved and improved by a one story restaurant building.

8312 Pulaski Highway fronts approximately 100' along the north side of Pulaski Highway, with depths of 191' and 173' and a rear lot line of 105' along the south side of Philadelphia Road, comprising 0.40 acre of land. The property has one curb cut to Pulaski Highway and one to Philadelphia Road. The parcel is mostly asphalt paved and has several tenant owned modular buildings.

Zoning is BR-AS, Business Roadside, permitting a variety of highway and heavy commercial land uses. For more information, see the Baltimore County Zoning Code.

IMPROVEMENTS AND LEASE:8302 Pulaski Highway is a one story restaurant building, constructed in 1958 as the Double-T Diner and currently vacant. According to published Baltimore County tax records, the structure contains 3,560 square feet of gross building area and 1,440 square feet of basement space.

The building is of masonry construction with decorative metal siding, stucco, built-up roof, front and rear entrances. Interior finishes are drywall, acoustical tile ceilings and terrazzo and ceramic tile floors. The main dining room has a counter with 12 stools and 10 booths, seating approximately 52. A side room seats approximately 32 and a room on the opposite side seats about 24. The building has a commercial kitchen with stainless steel updraft, 2 ceramic tile rest rooms, multiple zoned gas forced air heat and central air conditioning, a walk-in cooler, gas water heater and heavy electrical power.

A high visibility pole sign is located near the lot line between 8302 and 8312 Pulaski Highway.

MANNER OF SALE:Each property will be offered individually and the bids reserved. Then, both properties will be offered as an entirety. The sale will be made in the manner producing the greater amount.

TERMS OF SALE:A $25,000 deposit on each property, payable by certified check or cashier's check, will be required of the Purchaser at time and place of sale. The deposit shall be increased to 10% of the purchase price within 24 hours at the Auctioneer's office. Balance to be paid in cash at settlement, which shall take place within 45 days. If payment of the deposit or balance does not take place within the specified time, the deposit shall be forfeited and the property may be resold at the risk and expense of the Purchaser. Interest to be charged on the unpaid purchase money, at the rate of 12% per annum, from date of sale to date of settlement. All adjustments, including taxes, rents, all other public charges and assessments payable on a monthly or annual basis, and sanitary and/or metropolitan district charges, if any, to be adjusted for the current year to date of sale and assumed thereafter by the Purchaser. The property will be sold in "AS IS" condition, and subject to easements, agreements, restrictions or covenants of record affecting same, if any. Purchaser assumes the risk of loss from the date of sale forward. The Purchaser waives and releases the Seller, the Auctioneers, and their respective agents, successors and assigns from any and all claims the Purchaser and/or its successors and assigns may now have or may have in the future relating to the condition of the property, including but not limited to the environmental condition thereof. If the Seller is unable to convey good and marketable title, the Purchaser's sole remedy in law or equity shall be limited to the refund of the deposit. Upon refund of the deposit this sale shall be null and void and of no effect, and the Purchaser shall have no further claim against the Seller or Auctioneers. Recordation costs, transfer taxes and all costs incidental to settlement to be paid by the Purchaser. Time is of the essence.